File Edit t View Insert Format Tools Data Window Help AutoSave OFF by 5 0 = 2Ch 12 Homes O Auto Save OFF Final Exam ome Insert Draw Page Layout Formulas Data Review View Developer Arial 10 A AY ab v General Paste BIUV A $ ~ % " Recover Unsaved Workbooks. We were able to save changes to one or more files. Do you want to recover them? 1 + XVfox A B C D E F G Q9: Exam Company reported the following financial statement data: Exam Company Balance Sheet As for December 31 Current Year Last Year 0 Cash $53,90 $57,660 1 Accounts Receivable, Net 83,870 83,600 2 Merchandise Inventory 110,940 1 10,420 3 Total Current Assets 248,710 251,680 4 Long Term Investments 84,800 67,340 5 Plant Assets, Net 203,700 230,700 6 TOTAL ASSETS $537,210 $549,720 58 Accounts Payable $67,900 $58,600 59 Salaries Payable 14,230 14,400 60 Total Current Liabilities 82, 130 73,000 61 Long Term Liabilities 46,500 107,300 62 Total Liabilities 128,630 180,300 63 64 Paid in Capital 315,420 307,120 65 Retained Earnings 93,160 62,300 66 Total Equity 408,580 369,420 167 TOTAL LIABILITIES AND EQUITY $537,210 $549,720 168 169 170 Exam Company 171 Income Liatement 172 For Year Ending December 31 173 Sales Revenue $278,000 174 Cost of Goods Sold 180,700 175 Gross Profit 97,300 176 Selling expenses 45,600 177 Admin expenses 53,460 178 Total Operating Expenses 99,060 179 Net Income $1,760 180 181 182 a. Calculate the Current Ratio for Current Year (show formula as well) 183 404 Cement Datin - Exam Settings + 9,743 DEC 32 16Excel File Edit View Insert Format Tools Data Window Help AutoSave OFF A 5 0 = Ch 12 Ho Auto Save OFF 3 Final E Home Insert Draw Page Layout Formulas Data Review View Developer Arial 10 General Paste BI UV $ ~ % Recover Unsaved Workbooks. We were able to save changes to one or more files. Do you want to recover them? A1 + X V fox A B C D E F 179 Net Income $1,760 AC 180 181 182 a. Calculate the Current Ratio for Current Year (show formula as well) 183 Das 184 Current Ratio = 185 186 187 b. Calculate the Current Year AR Turnover and Days Sales Uncollected Ratios (show formulas) 188 Co 189 AR Tumover = 190 191 192 Days Sales Uncollected = 193 194 195 196 c. Calculate the Current Year Inventory Turnover and Days Sales in Inventory Ratio (show formulas) 197 198 Inventory Tumover = 199 200 201 Days Sales in Inventory = 202 Hi 203 1204 205 d. Explain what these ratios tell uLy specifically about this company. 206 1207 S 208 209